Writing a will is rarely a thing that people find themselves getting enthusiastic about. It’s fair enough, really – no one wants to confront his or her mortality by writing a will. However, it’s something that everyone has to do at some point, and you should start thinking about it sooner rather than later.
The other thing people are guilty of doing is actually writing a will, but then storing it away for years without updating it. Updating a will is very important, as your circumstances can change, and the things you wrote in your will years ago may not be the things you wish it to say now.
This guide has been written to tell you why it’s a good idea to have an up-to-date will. You can always get it updated by most legal representatives, like the Co-Operative Legal Services.
These legal representatives will also be able to perform other services for you, like probate from the Co-Op.
Have you just divorced?
You may have already had a will written before you were married; maybe you didn’t, and you got one together after you got married. Either way, if you’re going through a divorce, it’s best to get your lawyer or solicitor to update your will on the side while dealing with your divorce proceedings.
You probably included your ex-partner in your estate distribution plans after you got married; this is something very important that you’re probably going to want to amend before it’s too late and probate has begun.
Has something happened to one of the heirs?
If tragedy strikes and one of your heirs can no longer receive portions of your estate, this is something that will require you to change your will.
You will have to re-distribute the estate to the remaining heirs, or if there aren’t any others, you may have to consider what to do with your entire estate.
Other concerns and circumstances
There are other unforeseen things that are likely to happen that will cause you to update your will. For instance, the value of your estate may change (stocks and bonds, for instance). Another event that may give you cause for concern is something that causes you to change your own values and outlook on life.
This sounds vague, but it can have very, very large effects on your thinking and hence what you will want to do with your estate ultimately. You could find or lose faith in religion, for instance, or you could completely change the way you think about your heirs and what they deserve.